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Tata Technologies Limited — M&A Activity 2025
Sep 13, 2025
60382_rns_2025-09-13_23433b75-e3c8-4ed6-b01d-1df31e281fa2.pdf
M&A Activity
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Ref. No.: TTL/COSEC/SE/2025-26/44A
September 13, 2025
BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400001, India Scrip Code: 544028
National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051, India Trading symbol: TATATECH
Dear Sir / Madam,
Sub: Revised Disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, (‘SEBI Listing Regulations’), read together with Para A of Schedule III, read along with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, we wish to inform that the Company through its wholly owned subsidiary viz., Tata Technologies Pte. Limited, Singapore, has today i.e. September 13, 2025, signed a definitive agreement to acquire 100% equity shares in ES-Tec GmbH, and its subsidiaries (collectively, ES-Tec Group) from MW Beteiligungs GmbH.
There was an inadvertent typo in point ‘f’ of the earlier disclosure under Annexure A. The revised Annexure A is attached herewith.
There is no change in the Press Release submitted earlier which is re-attached as Annexure B .
This is for the information of the Exchange and the members.
Thanking you.
For Tata Technologies Limited
VIKRANT Digitally signed by VIKRANT CHANDRASHE CHANDRASHEKHAR GANDHE Date: 2025.09.13 21:17:17 KHAR GANDHE +05'30'
Vikrant Gandhe Company Secretary
Encl: as above
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Tata Technologies Limited
Plot No 25, Rajiv Gandhi Infotech Park | Hinjawadi, Pune 411057 | India Tel: +91 20 6652 9090 | Fax: +91 20 6652 9035 CIN L72200PN1994PLC013313 Email: [email protected] Website: www.tatatechnologies.com
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Revised Annexure A
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Sr. No. Particulars Details
Name of the target entity, Target Entity: ES-Tec GmbH , and its subsidiaries
details in brief such as size, (collectively, ES-Tec Group) is into the business of high-
turnover etc. end automotive engineering services with deep know-how
in ADAS, Connected Driving, and Digital Engineering. The
a)
company generated revenues of Euro ~36 million in 2024
and has over 300 employees.
Acquirer: Tata Technologies Pte. Limited, Singapore
Whether the acquisition would The acquisition is not with a related party.
fall within related party Promoter/ Promoter Groups/ Group Companies do not
transaction(s) and whether the have any interest.
promoter/ promoter group/ None of the Tata Technologies’ directors have any interest.
group companies have any
b)
interest in the entity being
acquired?
If yes, nature of interest and
details thereof and whether the
same is done at “arm’s length”
Industry to which the entity
c) Engineering, Research & Development (ER&D) services.
being acquired belongs
ES-Tec Group is a leading high-end automotive
engineering service company in Germany with a
specialized focus and deep know-how in ADAS, Connected
Driving, and Digital Engineering. This acquisition
Objects and impact of
significantly enhances TTL’s ER&D capabilities and
acquisition (including but not
broadens its end-to-end value proposition for global
limited to, disclosure of
automotive customers.
d) reasons for acquisition of
target entity, if its business is
ES-Tec Group’s presence in Germany will strengthen TTL’s
outside the main line of
growing presence in the region with a strong local talent
business of the listed entity)
pool and deep-expertise on systems engineering.
The transaction is expected to be EPS accretive from the
first full year of operations itself.
Brief details of any
Anti-trust filings required under the competition laws of
governmental or regulatory
e) Germany and Morocco, and such other regulatory
approvals required for the
approvals as may be required.
acquisition
The transaction is expected to be completed by December
Indicative time period for
f) 31, 2025.
completion of the acquisition;
Consideration - whether cash
consideration or share swap or
g) Cash
any other form and details of
the same
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Tata Technologies Limited
Plot No 25, Rajiv Gandhi Infotech Park | Hinjawadi, Pune 411057 | India Tel: +91 20 6652 9090 | Fax: +91 20 6652 9035 CIN L72200PN1994PLC013313 Email: [email protected] Website: www.tatatechnologies.com
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| Sr. No. | Particulars | Details |
|---|---|---|
| h) | Cost of acquisition and/or the price at which the shares are acquired |
Purchase consideration including earn-outs, totaling up to Euro 75 million |
| i) | Percentage of shareholding / control acquired and / or number of shares acquired |
100% |
| j) | Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief) |
Established in 2006, and headquartered in Wolfsburg, Germany, ES-Tec Group provides high-end automotive engineering services with deep know-how in ADAS, Connected Driving, and Digital Engineering. It has more than 300 skilled professionals with deep expertise on systems engineering. Revenue for the last 3 completed years (for the period ended 31 December); €24.7 Mn (CY22), €30.6 Mn (CY23), and €36.1 Mn (CY24) |
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Tata Technologies Limited
Plot No 25, Rajiv Gandhi Infotech Park | Hinjawadi, Pune 411057 | India Tel: +91 20 6652 9090 | Fax: +91 20 6652 9035 CIN L72200PN1994PLC013313 Email: [email protected] Website: www.tatatechnologies.com
Annexure B
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PRESS RELEASE
Tata Technologies Ltd. announces strategic acquisition of ES-Tec Group, Germany
Strengthens its global capabilities in next-gen mobility solutions
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Accelerates Engineering Research and Development (ER&D) Growth: Enhances Tata Technologies’ (TTL) capabilities in high-growth domains—ADAS, Connected Driving, and Digital Engineering—aligned with OEM R&D priorities.
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Strengthens European Presence: ES-Tec’s leadership in Germany strengthens TTL’s presence in the world’s most advanced automotive markets.
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Expands Talent & Expertise: Adds a strong talent pool of 300+ engineers with deep expertise on systems engineering.
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Unlocks Commercial Synergies: Complementary offerings and distinct customer base to enable cross-sell opportunities and broader access to OEM accounts.
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EPS Accretive: The transaction is expected to be EPS accretive from the first full year of operations.
Pune, India / Wolfsburg, Germany – September 13, 2025 — Tata Technologies (BSE: 544028, NSE: TATATECH), a leading global product engineering and digital services company, today announced that it has entered into a definitive agreement to acquire 100% equity shares of ES-Tech GmbH and its subsidiaries (collectively, ES-Tec Group) for a total cash consideration of € 75 million. The consideration will be paid over the next two years and includes performance-based earn-outs. The transaction is expected to be EPS accretive from the first full year of operations.
Founded in 2006 and headquartered in Wolfsburg, Germany, ES-Tec Group is a premium automotive engineering services provider with deep domain expertise in Driver Assistance Systems (ADAS), Connected Driving, and Digital Engineering. With a talent pool of over 300 skilled professionals, ES-Tec has built a strong reputation for delivering complex systems engineering solutions to its customers.
This acquisition marks a significant step forward in TTL’s global growth strategy, reinforcing its commitment to delivering future-ready engineering solutions to the automotive industry. ES-Tec’s established presence in Germany—one of the world’s most advanced automotive innovation hubs—provides Tata Technologies with a strategic platform to scale its ER&D operations, access top-tier engineering talent, and deepen relationships with marquee OEMs.
The automotive industry is undergoing a profound transformation, with European OEMs accelerating R&D investments in ADAS/AD, electrification, and software-defined vehicle platforms. As a result, the market for Engineering Service Providers (ESPs) in Europe is projected to grow from € 4.5 billion in 2020 to € 11.7 billion by 2030. This trend presents significant opportunities for ES-Tec to expand its capabilities, strengthen its customer partnerships, and capture a larger share of highvalue development programs.
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© Copyright 2025 Tata Technologies. All rights reserved. All other trademarks are trademarks of their respective owners.
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“The acquisition of ES-Tec Group is a strategic leap that enhances our ability to deliver end-toend product engineering solutions across the automotive value chain and represents our commitment to expand our global footprint in accessing innovative engineering capabilities,” said Warren Harris, MD & CEO of Tata Technologies. “ES-Tec’s technical depth, customer centricity, and regional strength align perfectly with our strategic vision to be the first partner choice for global OEMs navigating the shift towards intelligent, connected, and sustainable mobility.”
We are delighted to welcome the Es-Tec team to the TTL family. The integration of ES-Tec Group will significantly enhance Tata Technologies’ ER&D capabilities, particularly in embedded systems, electronics, and systems engineering. We will be well-positioned to unlock cross-selling synergies, expand and jointly pursue next-generation mobility programs.
Marc Wille, MD & CEO of ES-Tec said – “Joining forces with Tata Technologies is a key step for the ES-Tec Group to extend the breadth and depth of capabilities and expand our international presence. Together, we are ready to take on the future challenges of the automotive industry – delivering real value for our customers through competitive pricing, outstanding quality, and faster development cycles. Our goal is clear: to drive the global automotive industry forward, and together with Tata Technologies, become a partner of choice for the mobility sector.”
The transaction is subject to customary closing conditions and regulatory approvals. Tata Technologies remains committed to investing in innovation, talent, and customer success as it continues to scale its global footprint and deliver differentiated value to its partners.
MCF Corporate Finance based in Europe was the advisor to Tata Technologies on this transaction.
About Tata Technologies:
Tata Technologies (BSE: 544028, NSE: TATATECH) is a global product engineering and digital services company focused on fulfilling our mission of helping the world drive, fly, build, and farm by enabling our customers to realize better products and deliver better experiences. We are the strategic engineering partner businesses turn to when they aspire to be better. Manufacturing companies rely on us to enable them to conceptualize, develop, and realize better products that are safer and cleaner and improve the quality of life for all the stakeholders, helping us achieve our vision of #EngineeringABetterWorld. For more, visit us at https://www.tatatechnologies.com or learn more here. Follow us on LinkedIn, Instagram, Twitter, Facebook , and YouTube for the latest updates.
About ES-Tec
As a premium engineering service provider, ES-Tec shapes the mobility of tomorrow together with renowned OEMs. ES-Tec is deeply embedded in vehicle development, testing and implementing complex systems and functions with a strong focus on ADAS, Connected Driving, and Digital Engineering. With its nearshoring footprint in Morocco, the Group provides exclusive access to one of the world’s most advanced proving grounds – delivering a unique edge in testing, validation, and time-to-market acceleration. GE-T, as being a vital part of the Group, focuses on automation, robotics, and artificial intelligence, serving as the Group’s in-house driver of innovation and cutting-edge technology. Together, the Group combines technological excellence with maximum flexibility and rapid, unbureaucratic execution – creating real value for customers and strengthening competitiveness in a transforming industry.
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© Copyright 2025 Tata Technologies. All rights reserved. All other trademarks are trademarks of their respective owners.
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Investor relations contact:
Vijay Lohia - [email protected]
Media contacts:
Nikita Crasta – +91 22 67574600, [email protected]
Forward-Looking Statements
This release may include opinions and assumptions about future performance which could be considered forward-looking statements. Forward-looking statements intrinsically cover several risks and uncertainties, which may lead to a material difference between actual results and the statements themselves. Such statements comprise the company’s current visibility on market movements, client discussions, and related factors. Tata Technologies Limited does not assume an obligation to update or revise any forward-looking statements.
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© Copyright 2025 Tata Technologies. All rights reserved. All other trademarks are trademarks of their respective owners.
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